UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
February 25, 1997
IMCLONE SYSTEMS INCORPORATED
(Exact Name of Registrant as Specified in Charter)
Delaware 0-19612
(State or Other Jurisdiction (Commission File Number)
of Incorporation)
04-2834797
(IRS Employer Identification Number)
180 Varick Street, New York, New York 10014
(Address of Principal Executive Offices) (Zip Code)
(212) 645-1405
Registrant's telephone number, including area code
Item 5. Other Events.
On February 25, 1997, ImClone Systems Incorporated,
a Delaware corporation (the "Company"), filed a Registration
Statement on Form S-3 with the Securities and Exchange
Commission for an offering of up to 3,000,000 shares (the
"Shares") of Common Stock, $.001 par value (the "Common
Stock"), of the Company to be offered by the Company. The
Company may sell the Shares of Common Stock directly to
purchasers or through or to one or more agents, underwriters
or dealers. The Company anticipates using the net proceeds
from the offering (i) to continue to fund and expand its
research and development programs and (ii) for general
corporate purposes, including working capital. The actual
use of proceeds of the offering will depend on the amount of
net proceeds to the Company from the offering.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned
thereunto duly authorized.
IMCLONE SYSTEMS INCORPORATED
Date: February 25, 1997 By /s/ JOHN B. LANDES
John B. Landes
Vice President-
Business Development
and General Counsel,
Secretary
